BLOOMINGTON, Minn.--(BUSINESS WIRE)--Oct. 20, 2009--
The Toro Company (NYSE: TTC) today announced that Judy Altmaier has
joined the company as vice president, operations. She succeeds Sandy
Meurlot, who is retiring after seven years with the company.
In her new position, Altmaier assumes responsibility for all
manufacturing operations in North America with indirect oversight for
international manufacturing and distribution facilities. Prior to Toro,
she was with Eaton Corporation where she most recently served as vice
president and general manager of operations for the Auto Group Americas.
Additionally, as required by New York Stock Exchange (NYSE) rules, the
company today reported the grant of restricted stock to Altmaier. The
Board of Directors of The Toro Company awarded 4,752 restricted shares
of common stock, par value $1.00, to Altmaier as an employment
inducement award.
The restricted stock will vest in full on the third anniversary of
Altmaier’s first day of employment with Toro and may vest earlier upon
the occurrence of certain events, including death or disability or a
change of control of Toro. In the event that Altmaier voluntarily
terminates her employment prior to her third anniversary with Toro, the
entire restricted stock grant will be forfeited and the shares will be
returned to Toro's treasury account.
In accordance with NYSE Rule 303A.08, this employment inducement stock
award requires a public announcement of the award and written notice to
the NYSE.
About The Toro Company
The Toro Company (NYSE: TTC) is a leading worldwide provider of turf and
landscape maintenance equipment, and precision irrigation systems. With
sales of nearly $1.9 billion in fiscal 2008, Toro’s global presence
extends to more than 140 countries through its reputation of world-class
service, innovation and turf expertise. Since 1914, the company has
built a tradition of excellence around a number of strong brands to help
customers care for golf courses, sports fields, public green spaces,
commercial and residential properties, and agricultural fields. More
information is available at www.thetorocompany.com.
Source: The Toro Company
The Toro Company
Investor Relations
John Wright,
952-887-8865
Director, Investor Relations
invest@toro.com
or
Media
Relations
Branden Happel, 952-887-8930
Manager, Public
Relations
pr@toro.com
